Neurostimulation Devices Market size worth $13.7bn by 2023

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Neurostimulation Devices Market size worth
13.7bn by 2023, at over 14.5 CAGR Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Neurostimulation Devices Market

• Global neurostimulation devices market size
  estimates were USD 4.58 billion in 2015, and
  forecast to attain CAGR of 14.7 up to 2023 and
  exceed USD 13.5 billion.
• Spinal cord stimulation products dominate the
  global market, with over USD 2.6 billion revenue
  in 2015 these were among the earliest
  commercialized technologies in the industry and
  thus enjoy strong penetration.
• Gastric electric stimulation deep brain
  stimulation devices are also perceived to be
  attractive avenues for growth. However, the
  nascent nature of these technologies leaves room
  for further investigation and RD. These niche
  segments may lead to a rise in RD spending and a
  dynamic IP landscape.

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Continued...

• Europe neurostimulation device market revenue is
  set to exceed USD 2.8 billion by 2023, at 16.6
  CAGR.
• Pain management application segment was estimated
  at USD 3.05 billion in 2015. This market size can
  be attributed to rising global chronic pain
  disorder prevalence along with growing
  neurostimulation device adoption for pain
  management due to strong therapeutic value.
• The threat of new entry in the market is low,
  mainly due to capital intensive nature of the
  market. Moreover, the companies entering this
  market need high capital investments to set up
  manufacturing and research development
  facilities.

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Continued...

• Neurostimulation devices play an important role
  in providing therapeutic solutions for depression
  and obesity and therefore a rise in the
  prevalence of such diseases is expected to drive
  demand.
• Minimally invasive transdermal neuromodulation
  technology by Neurowave and MRI safety
  incorporated devices by Medtronic will drive
  industry innovation. Rapid economic development
  in APAC and LATAM will strengthen the platform
  for the growth of this market by enhancing buying
  power of consumers.

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Europe neurostimulation devices market Size, by
product, 2014-2023, (USD Million)

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360 Analysis

• Product Analysis
• Spinal cord stimulator is a predominant product
  segment, generating over 57 of neurostimulation
  market size in terms of revenue in 2015, on
  virtue of being one of the earliest technologies
  to be commercially available, hence gaining
  maximum market penetration.
• Regional Analysis
• North America, dominated by the U.S.
  neurostimulation devices market size is forecast
  to exceed USD 7.6 billion by 2023, still
  remaining the largest regional industry. Rapid
  adoption of advanced technologies, high
  prevalence of target diseases such as epilepsy,
  Parkinsons disease, and incontinence, coupled
  with increased awareness levels are key driving
  factors.
• Competitive Market Share
• Global neurostimulation devices market share is
  led by Medtronic, Inc. St. Jude Medical, which
  accounted for approximately 65 share in 2015.
  Other active players in this market include
  Boston Scientific Corporation, Cyberonics, Nevro
  Corporation, and Neuronetics, Inc. among others.
  Acquisitions and strategic alliances is the major
  strategy adopted by the players in this market,
  in order to maintain leadership position.

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